Tuesday August 11th 2009, 12:40 pm
Filed under: Canada, Sandy Hutchens Tagged 3 million mortgage loans, delinquencies, Foreclosure starts, foreclosures., graphs, Graphs on Delinquencies and Foreclosures, higher percentage of subprime, Hope Now statistics, Sandy Hutchens, subprime
Filed under: Canada, Sandy Hutchens Tagged 3 million mortgage loans, delinquencies, Foreclosure starts, foreclosures., graphs, Graphs on Delinquencies and Foreclosures, higher percentage of subprime, Hope Now statistics, Sandy Hutchens, subprime
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Sandy Hutchens brings you graphs on delinquencies and foreclosures.
There are now more than 3 million mortgage loans 60+ delinquent based on the Hope Now statistics. This covers approximately 85% of the total industry.
There are far more prime loans delinquent than subprime, although a much higher percentage of subprime (18.4%) vs prime (4.24%).
The second graph shows foreclosure starts and completions.
Foreclosure starts are above 250 thousand per month, and completions close to 100 thousand per month. There is a lag between start and completion, and a number of loans cure or are modified – but it does appear completions will increase in the 2nd half of 2009 based on the surge in starts at the beginning of the year.
